21. Notwithstanding anything in section 10, 12, 13 or 15, the prescribed authority may in any case arising under any of those sections-
(i) issue a duplicate or renewed security or convert, consolidate or sub-divide a security or securities upon the applicant giving the prescribed indemnity against the claims of all persons claiming under the original security or under the security or securities so renewed, converted, consolidated or sub-divided, as the case may be, or
(ii) refuse to issue a duplicate or renewed security or to convert, consolidate or sub-divide a security or securities unless such indemnity is given.
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Ministry of Law, Justice and Parliamentary Affairs